ACT Advisors LLC. Makes New $238,000 Investment in Meta Platforms, Inc. (NASDAQ:META)

by · The Markets Daily

https://www.americanbankingnews.com/wp-content/timthumb/timthumb.php?w=250&h=150&zc=2&src=https://www.marketbeat.com/logos/meta-platforms-inc-logo.png?v=20220609084126
ACT Advisors LLC. acquired a new stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 793 shares of the social networking company’s stock, valued at approximately $238,000.

Several other institutional investors have also recently modified their holdings of the company. Merrion Investment Management Co LLC purchased a new stake in Meta Platforms in the third quarter valued at approximately $240,000. Oak Harbor Wealth Partners LLC boosted its holdings in shares of Meta Platforms by 9.4% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 2,383 shares of the social networking company’s stock valued at $715,000 after acquiring an additional 205 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of Meta Platforms by 2.2% in the third quarter. Ballentine Partners LLC now owns 56,366 shares of the social networking company’s stock worth $16,922,000 after acquiring an additional 1,217 shares during the period. FinDec Wealth Services Inc. raised its holdings in shares of Meta Platforms by 15.4% during the third quarter. FinDec Wealth Services Inc. now owns 4,216 shares of the social networking company’s stock worth $1,266,000 after purchasing an additional 564 shares during the last quarter. Finally, Connecticut Wealth Management LLC lifted its position in Meta Platforms by 39.5% during the third quarter. Connecticut Wealth Management LLC now owns 3,032 shares of the social networking company’s stock valued at $910,000 after purchasing an additional 858 shares during the period. 62.87% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 1.2 %

Shares of NASDAQ META opened at $353.96 on Friday. Meta Platforms, Inc. has a 1 year low of $117.74 and a 1 year high of $361.90. The company has a market capitalization of $909.63 billion, a P/E ratio of 31.24, a P/E/G ratio of 1.16 and a beta of 1.20. The company has a 50 day simple moving average of $329.74 and a 200-day simple moving average of $310.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.57 and a quick ratio of 2.57.

Meta Platforms (NASDAQ:META – Get Free Report) last posted its earnings results on Wednesday, October 25th. The social networking company reported $4.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.77. Meta Platforms had a return on equity of 26.40% and a net margin of 23.42%. The company had revenue of $34.15 billion during the quarter, compared to analysts’ expectations of $33.58 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts predict that Meta Platforms, Inc. will post 14.32 earnings per share for the current year.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of Meta Platforms stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $338.48, for a total transaction of $191,579.68. Following the completion of the sale, the insider now directly owns 40,380 shares in the company, valued at $13,667,822.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Mark Zuckerberg sold 28,009 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $310.60, for a total value of $8,699,595.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $338.48, for a total value of $191,579.68. Following the transaction, the insider now owns 40,380 shares of the company’s stock, valued at $13,667,822.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 687,984 shares of company stock worth $230,205,156. Company insiders own 13.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on META. Roth Mkm lifted their price objective on Meta Platforms from $360.00 to $365.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Rosenblatt Securities boosted their price target on Meta Platforms from $372.00 to $411.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Tigress Financial boosted their target price on shares of Meta Platforms from $380.00 to $435.00 and gave the company a “strong-buy” rating in a research note on Wednesday, November 22nd. Piper Sandler lowered their price target on shares of Meta Platforms from $365.00 to $355.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Finally, Citigroup reaffirmed a “buy” rating and issued a $385.00 price objective on shares of Meta Platforms in a report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $354.37.

Read Our Latest Research Report on META

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

Further Reading